[H]Issue of an Information Brochure to inform Consumers[/I][/H]
The Consumer Protection Agency announces the publication of an information leaflet entitled "Payment Accounts with Basic Features", issued under the Comparability of Fees, Change of Payment Account and Access to Payment Accounts Act 2017 (Act 64(I)/2017). The Law establishes rules on the transparency and comparability of fees charged to consumers for their payment accounts, as well as rules regarding switching payment accounts within the Republic and rules to facilitate cross-border opening of payment accounts for consumers. It also sets out the framework within which consumers' right to open and use payment accounts with basic features is ensured.
The leaflet provides, inter alia, information on the benefits of a Basic Features Payment Account, the procedure to be followed to open such an Account, the beneficiaries of such an Account, etc.
The leaflet can be found on the website of the Consumer Protection Agency (www.consumer.gov.cy)
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